Final Exam Flashcards
As e-commerce continues to develop, many retailers are likely to maintain some type of “brick-and-mortar” store or physical location primarily because
consumers expect integrated shopping experiences that include face-to-face options.
According to our TED video “The Joy of Shopping”, which type of commerce is particularly good at helping online sales in developing countries?
Conversational Commerce
E-commerce ________ includes creating marketing messages that contain the individual’s name, appeal to his/her interests, and take their purchase behavior into account.
personalization
online content that has been created and posted by unpaid contributors such as customers or fans of a product or service is referred to as
user-generated.
Which portion of Gartner’s Magic Quadrant identifies those providers with significant market share, robust and scalable solutions, broad features and good distribution?
Leaders
It is especially important for startup companies to create and follow a well-designed e-commerce strategy. Which of the following is the first phase in a well-designed strategy?
web planning
A sales associate has been hired to write blog posts that will be regularly published on a blog about new beauty products. The blog posts are designed to include the SEO terms that relate to the company’s newest skin care product, using the keywords that will also be used in their advertising campaigns. What part of the e-commerce timeline would this be a part of?
implementation
The organizations likely to benefit the most from the global reach of e-commerce are those that
previously depended on foot traffic into one physical store to sell their products.
What was the original planned name for the company now known as Amazon?
Cadabra
Which type of Ad Network is the best offers the least amount of company control to where a company’s advertisements are placed, but offers low cost to the company?
Blind
It is especially important for startup companies to create and follow a well-designed e-commerce strategy. Which of the following is the last phase in a well-designed strategy?
mobile platform planning and implementation
E-commerce transactions that are executed using wireless mobile devices are known as
m-commerce.
The e-commerce company with the highest revenue is based in which country?
the United States
E-commerce ________ is the ability of an organization to create a strong presence among consumers in many places, with minimal time constraints, to sell them products and services.
ubiquity
Which of the following scenarios represents a customer acquisition cost of $100?
A company spends $100,000 on advertising and marketing in one month. They gain 1,000 new customers in that month.
On an e-commerce presence map, what is presence?
websites, email, social media sites, and offline media
M-commerce is a subset of
traditional e-commerce.
________________ is a small text file left on a website visitor’s hard drive that is used to personalize the site for the visitor or track web activities.
Cookie
According to our Tech Bytes, Tanner shared that Russian citizens are leveraging this technology to attempt to access web based services that are being blocked.
Virtual Private Network (VPN)
Built on real-time geodata and information provided from wireless mobile devices, ________ are widely used in m-commerce.
location-based services (LBS)
What is the basic formula for estimating risk exposure?
multiply risk probability by risk impact
Which of the following best describes a project charter?
a key document that authorizes a project
To assist project managers with determining and evaluating potential risk, the project management body of knowledge (PMBOK) identifies ________ processes.
six
Of the following descriptions, which one accurately applies to slack?
time when one project activity is waiting for another activity
What is the goal of a project portfolio manager?
ensure that their firm accepts only the right projects
Which of the following best describes the term scope creep?
the way in which project features are added in an uncontrolled way
Which project management tool is so important that nearly all PM software includes support systems for it, to ensure that all stakeholders are kept informed of a project’s status?
a communications plan
How does a Gantt chart indicate that two activities will be conducted concurrently (at the same time)?
The horizontal bars for each will occupy the same columns (days).
Which type of chart commonly used by project managers is a horizontal bar chart that shows project activities on the y-axis and time on the x-axis?
Gantt chart
Which statement correctly summarizes the role of the project manager (PM) during the execution stage of the project management process?
The PM monitors progress and resources and adjusts the schedule as needed.
Every project faces limitations, such the amount of available equipment or environmental constraints. To mitigate these limitations, project managers use software that provides
resource leveling.
What does an oval represent on a flowchart?
beginning and end
A network chart that displays all the paths to project completion is known as a
program evaluation and review technique chart.
To assist stakeholders to visualize the project processes, project managers have long used
flowcharts.
On the flowchart, a decision point is depicted by a(n)
diamond.
The essential function of resource leveling is to
keep the project moving toward completion by reassigning resources.
During which phases of a project is project management software used to increase the efficiency of all team members?
initiation, planning, execution, and closure
Which type of network chart allows project managers to redirect resources from processes that are not on the critical path to ones that are on the critical path?
a PERT chart
Which word best describes the nature of projects, given that they have starting points and (hopefully) ending points?
temporary
Which shape in a common flowchart represents a process or step?
rectangle
According to Professor Porter, a business must differentiate itself from its competitors. One method is to encourage customers to believe that an organization provides higher quality goods or better service, then the organization can charge a premium, or gain market share, or (ideally) both. For example, by placing a swoop icon on a sweatshirt, Nike is able to charge a higher price. This methodology is called
monopolistic competition.
Coca-Cola and PepsiCo dominate the soft drink market. However, during the 2000s, many customers switched from soft drinks to water, causing Coca-Cola and PepsiCo to develop Dasani and Aquafina. The ability of customers to switch from one product to an alternate product illustrates what Porter called the force of
substitutes.
Apple uses Corning’s glass products for all its devices, such as the Gorilla Glass 6 used in the iPhone 11 series. To ensure that it continues to have a strong relationship with this glass industry leader, Apple has invested nearly $500 million toward Corning’s advanced glass research division. By building up this relationship, Apple seeks to maintain some control over which of Porter’s 5 forces?
suppliers
What is legendary GE CEO Jack Welch quoted as saying about competition?
“If you don’t have a competitive advantage, don’t compete.”
Over 50 percent of all innovative products fail in the market, while over 80 percent of the successors to the products succeed. This is a key tenet of ________ strategy.
fast-follower
Which is the best explanation of why technology is highlighted in a PESTEL analysis?
Failing to keep up with advances in technology can harm an organization’s competitiveness.
Karl Benz invented the internal combustion automobile in 1885. More than a century before, Adam Smith had described how division of labor creates efficiencies. When Henry Ford set up Model T production on an assembly line in 1908, he combined technology and efficiency to produce an inexpensive automobile. Ford transformed the personal transportation market. Christensen called this process
disruptive innovation.
The costs that customers incur when they change suppliers.
Switching costs
Coffee vendors who operate small, drive-up coffee stands find it difficult to charge significantly higher prices than their many competitors do. What aspect of the coffee stand business makes raising prices difficult?
its low barriers to entry
When conducting a SWOT analysis, an organization’s human resource management system is used to evaluate the relative strength or weakness of its
personnel (workforce).
When competitors seek to gain competitive advantage through price leadership or by making product improvements, Professors W. Chan Kim and Renee Mauborgne would say they are using a(n)
red ocean strategy.
Creating an entirely new market is an example of a ________ ocean strategy.
blue
In Tech Bytes, Thien shared that the Apple Campus has a roof made almost entirely out of this material.
Glass
Management information systems allow managers to build upon an organization’s existing strengths to create
competitive advantages.
With the increasing presence of Internet e-commerce sites, the force of customers has
increased.
Which PESTEL factor can managers monitor by improving communications throughout the organization and gaining better perceptions of consumers’ opinions using CRM software?
sociocultural